moving from nyc to cleveland (Parma, Lakewood: rent, condo, mortgage)

[Cleveland_Collector]

Originally Posted by waterguzzler

thanks for all the replies! i think i will start looking around for a real estate broker and visit cleveland in person.

regarding buying property, while it would be nice to make a small gain at the end of 4 years, even breaking even would be a stronger alternative than straight up giving money away to a landord by paying rent. plus i would be building a solid credit history in the meantime. unfortunately i don't think i will be making the deadline for the homebuyer's tax credit.

That's sound financial thinking...good for you. My guess is that credit will be extended as it has worked out rather well. Happy hunting!!

[twange]

Originally Posted by Cleveland_Collector

I would easily make the assumption that someone in this market could unload a $150K house within a month or two, if it was purchased in the current market setting. Cleveland's suburbs haven't taken that big of a hit in value and houses are still selling relatively well in that price range, regardless of the recession.

That's good to know since I'll have one on the market in June, thanks.

[waterguzzler]

i've gotten recommendations for tremont and ohio city both in and outside this forum. the consensus seems to be that they are trendy, gentrified neighborhoods in an urban environment. in my price range (up to 175k) by real estate listings and google maps, tremont has older houses and nice expensive condos, while ohio city has newer, more affordable houses and townhouses. would this be an accurate assessment? in a head-to-head general comparison between tremont and ohio city as neighborhoods, what are your opinions?

in terms of safety, another thread (5Lakes) mentioned ohio city was somewhat sketchy. what do you think?

[treat]

I would go with Tremont because it's safer.

[Cleveland_Collector]

Originally Posted by twange

That's good to know since I'll have one on the market in June, thanks.

In the Cleveland area? If so, whereabout?

[Cleveland_Collector]

Originally Posted by waterguzzler

i've gotten recommendations for tremont and ohio city both in and outside this forum. the consensus seems to be that they are trendy, gentrified neighborhoods in an urban environment. in my price range (up to 175k) by real estate listings and google maps, tremont has older houses and nice expensive condos, while ohio city has newer, more affordable houses and townhouses. would this be an accurate assessment? in a head-to-head general comparison between tremont and ohio city as neighborhoods, what are your opinions?

in terms of safety, another thread (5Lakes) mentioned ohio city was somewhat sketchy. what do you think?

Yes, somewhat.

Ohio City is close to a few CMHA (project) developments. Tremont is relatively isolated from all of that. Tremont is also a little closer to the Metro campus. If I were you, I would also check out the southern suburbs unless you really want an urban setting.

[waterguzzler]

Originally Posted by Cleveland_Collector

If I were you, I would also check out the southern suburbs unless you really want an urban setting.

Yes I am looking into Seven Hills and Independence as well. Already in contact with a realtor. Thanks for the advice!

[k8andcrew]

I would buy in Cleveland Heights. A little further than Ohio City or Tremont but a very active and vibrant community!

[marence]

Our "family home" is in Seven Hills. It's a quiet bedroom community with lots of shopping and entertainment options, being bracked by two major north/south routes, I-77 and Broadview Road. Independence has more of a small town flavor, with a real town square and lots of community festivals during the summer. If you don't mind commuting, they're both good choices for stable safe neighborhoods with houses that hold their value well, especially the custom-builts from the 1960s and 1970s.

[twange]

Originally Posted by Cleveland_Collector

In the Cleveland area? If so, whereabout?

Sorry for the late reply...Solon, near the High School.